Skip to main content

FG has implemented more than 140 reforms to make doing business in Nigeria easier - osinbajo

- Federal government has implemented no fewer than 140 reforms on ease of doing business in the past three years

- Yemi Osinbajo who disclosed this said some of the successful reforms include the ability to-reserve a business name within four hours

- Osinbajo said the major focus of the government is to move Nigeria into the top-100 on the 2020 World Bank Doing Business Index

Vice President Yemi Osinbajo on Wednesday, April 3, declared that the federal government has implemented no fewer than 140 reforms on ease of doing business in the past three years.

Osinbajo said this at the 2nd Presidential Enabling Business Environment Council (PEBEC) Awards 2019 held at the state House Banquet Hall in Abuja.

News Agency of Nigeria (NAN) reports he said he was delighted to celebrate the phenomenal successes of the PEBEC reforms and recognition of those who made it all possible.

READ ALSO: Appeal Court sacks Gombe PDP lawmaker-elect

"Our incredibly selfless and committed private sector partners and the sterling performance of many in the public sector; in the past three years, Nigeria has implemented more than 140 reforms to make doing business in Nigeria easier.

“Some of the successful reforms include the ability to-reserve a business name within four hours. Complete the registration of a company within 24 hours online. Apply for and receive approval of a visa-on-arrival electronically within 48hrs.

“File and pay taxes online; and access specialised small claims commercial courts in Lagos and Kano The World Bank also reported in 2018 that 32 states of Nigeria improved their Ease of doing business environment led by Kaduna, Enugu, Abia, Lagos and Anambra," he said.

He said in 2019, PEBEC set a goal to move Nigeria into the top-100 on the 2020 World Bank Doing Business Index (DBI). He said to achieve that, Nigeria would be pursuing the continued implementation reforms across all indicators.

Osinbajo said the indicators included implementation of legislative reforms, specifically the passage of the new Companies and Allied Matters Act and the Omnibus Bills.

The vice president listed others as the expansion of the regulatory reform program started with NAFDAC and NAICOM to include other regulators; the establishment of a National Trading Platform for ports; and the concession of our major international airports.

He added: “PEBEC has now commenced the fourth 60-day National Action Plan (NAP 4.0) on Ease of Doing Business. NAP 4.0 is running from the 1st of March to the 29th of April, 2019.

"It aims to deepen the reforms delivered over the past 3 years and drive institutionalization. We have highlighted key action items in all of the focus areas to ensure they do not unravel and to ensure we drive sustainability

“Some of the targets achieved in the last NAP 3.0 include driving registration for utilization of the National Collateral Registry to facilitate access to credit for SMEs.

“Clearance of all pending NAFDAC registration applications to improve efficiency; and creation of a strengthened single joint cargo examination interface in all airports & seaports for import and export to reduce the time spent at the ports.

“NAP 4.0 will focus on initiatives such as enforcing compliance with SLAs across all indicators/focus areas, driving the passage of the CAM Bill 2018 for improved effectiveness of company law in Nigeria.”

PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app

He said other areas of reforms were enhancing efficiency in the small claims court, and enhancing the application and approval system for visas on arrival, to mention a few.

According to him, the council will continue to work extensively with all MDAs, the National Assembly and other key stakeholders.

Recall that Legit.ng reported that Osinbajo said Nigeria's current debt profile when compared to the size of its economy is the lowest in the world.

Osinbajo while speaking at the 50th convocation of the University of Lagos, Akoka, themed “Nigeria Rising: The Path to Prosperity” said that the inflation in Nigeria had stabilised at 11% over the past six months.

I have trained four graduates with this fish business - fishseller| Legit TV:

Source: Legit.ng



from Nigeria News today & Breaking Naija news ▷ Read on Legit.ng 24/7 http://bit.ly/2FQIZDm
via EDUPEDIA24/7

Comments

Popular posts from this blog

Nigerian Academy Of Science Inducts First Female President

The Nigerian Academy of Science has inducted a professor of Parasitology/Epidemiology, Ekanem Ikpi Braide, as its 19th President on Thursday. In a statement issued by Oladoyin Odubanjo, the Executive Secretary of the Academy, Braide is the Academy’s first female President in 44 years of existence. It read, “Braide was a member of the national committee that achieved the laudable feat of guinea worm eradication in Nigeria. “She has a rich professional experience as a researcher and an administrator. In July 2010, Professor Braide was honoured by the President of Nigeria with the award of Officer of the Order of the Federal Republic (OFR) for her contribution to disease control in Nigeria. “She was nominated by the Honourable Minister of Health to serve in the Ministerial Expert Advisory Committee on COVID-19 Health Sector Response (MEACoC-HSR). “Professor Braide served as Vice-Chancellor, Cross River University of Technology (CRUTECH) Calabar, Nigeria (2004 to 2009) and as P

NLNG Signs Letter Of Intent On Delayed Gas Expansion Project

The Nigerian Natural Liquefied Gas LTD has signed a letter of intent for the engineering, procurement and construction of its long held up Train Seven project. In a statement released by the company on Wednesday, it said that the $10bn project will be executed by a consortium of Italian firm Saipem, Japan’s Chiyoda and South Korea’s Daewoo. The statement reads, “The project will form part of the investment of over $10bn including the upstream scope of the LNG value chain, thereby boosting the much needed Foreign Direct Investment profile of Nigeria.” Managing Director of NLNG, Tony Atta, said in 2018 that the Final Investment Decision would be made in the fourth quarter of that year. This did not however, materialize. According to the release, the project will have a four to five-year execution time after the signing of the FID. The project is expected to add an extra 8 million tons per annum of gas to the 22 mtpa currently exported by the company. Oil News AddThis : 

Former Maritime Agency Boss, Buba Galadima, Accuses AMCON Of Witch-hunt After Property Takeover

  A former Director-General of the Nigeria Maritime Agency, Buba Galadima, has accused the Asset Management Corporation of Nigeria of witch-hunt after the agency took possession of his business and assets on Tuesday in Abuja. Galadima, an ardent critic of President Muhammadu Buhari, claimed that he did not borrow money or have unpaid debt with Unity Bank, which lodged a complaint against him and occasioned AMCON’s move on Tuesday. The properties taken over include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory, Abuja and House No. 4, Bangui Street, Wuse 2, also in Abuja.  Reacting to the situation, Galadima said, “This is an attempt to disgrace and break me down. This is injustice and an attempt to humiliate me. "But I am unbreakable and they can never silence me. They sacked me and over 50 people that sleep in the apartment. "We don’t know where to go. We will remain on the streets. We will remain on the streets until God provi